Originally Posted by
mermaid
I donate to local Nursing home--little quilts and wheelchair / walker bags...never ever filed a claim. It's called "donation". I believe we should all give back if we've been blessed by.."there, but for the grace of God, go I".
This brings to mind a question---------say a top notch artist donates a piece of art worth a million dollars on the open market. Is he/she allowed to deduct the going price of a million dollars or just the $50 or so for a canvas and paints?
My bet, in this case, is that he/she could deduct far more than the cost of materials.